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Why Natural Gas Will Be AI’s Next Great Shortage

Matt Smith joins us to explain why the United States may be approaching a historic natural gas shortage—and why the market is not yet pricing it in.

Matt SmithguestPatrick O'Shaughnessyhost

Jul 21, 202659mWatch on YouTube

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EPISODE INFO

Released: July 21, 2026
Duration: 59m
Channel: Invest Like the Best
Watch on YouTube: ▶ Open ↗

EPISODE DESCRIPTION

Matt Smith joins us to explain why the United States may be approaching a historic natural gas shortage—and why the market is not yet pricing it in. After 18 months of bottom-up research across producing basins, pipelines, processing infrastructure, LNG exports, and AI power projects, Matt argues that the country could begin drawing down gas storage at unprecedented rates as early as 2028, with major implications for electricity prices, hyperscaler economics, and the American consumer. In June, Matthew wrote a letter to a small group of confidants laying out the full case behind his natural gas forecast. He has allowed us to publish it. You can read the full letter here: https://colossus.com/wp-content/uploads/2026/07/letter-III-got-gas.pdf TIMESTAMPS 0:00 Intro 1:30 What Drives the Deficit 11:00 Why Supply Can’t Catch Up 20:35 The 2030 Gas Crisis 25:05 Winners and Losers 29:00 Nuclear and Solar 33:30 Consumers Pay the Bill 37:20 AI’s Next Shortage 45:25 Solutions and Global Stakes 51:15 The Coming Gas Knife Fight Presented by Ramp: https://ramp.com/invest Sponsored by Vanta, WorkOS, Rogo, and Ridgeline: https://www.vanta.com/invest https://workos.com/ https://rogo.ai/invest https://www.ridgelineapps.com/ ****** Patrick O'Shaughnessy is the CEO of Positive Sum. All opinions expressed by Patrick and podcast guests are solely their own and do not reflect the opinion of Positive Sum. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of Positive Sum may maintain positions in the securities discussed in this podcast. To learn more, visit psum.vc #NaturalGas #ArtificialIntelligence #EnergyMarkets #AIInfrastructure #DataCenters #NuclearEnergy #Investing

SPEAKERS

Matt Smith
guest
Energy-market investor and analyst focused on U.S. natural gas supply/demand and infrastructure dynamics.
Patrick O'Shaughnessy
host
Host of Invest Like The Best and interviewer covering business, investing, and industry deep-dives.

EPISODE SUMMARY

In this episode of Invest Like the Best, featuring Matt Smith and Patrick O'Shaughnessy, Why Natural Gas Will Be AI’s Next Great Shortage explores U.S. natural gas supply crunch looms as LNG and AI surge Matt Smith argues the U.S. is heading toward an historic natural-gas deliverability deficit starting in 2028, with storage levels projected to fall below any prior precedent by 2029 in his modeling.

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